Danske Bank A S Purchases New Position in Alcoa $AA

Danske Bank A S purchased a new stake in Alcoa (NYSE:AA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 66,599 shares of the industrial products company’s stock, valued at approximately $3,472,000.

Several other hedge funds have also bought and sold shares of AA. NewEdge Advisors LLC grew its stake in shares of Alcoa by 1,098.0% during the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alcoa by 0.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after purchasing an additional 4,624 shares during the period. Invesco Ltd. lifted its stake in shares of Alcoa by 1.9% in the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after purchasing an additional 12,008 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,295 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Alcoa by 320.1% during the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after buying an additional 205,717 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on AA shares. Zacks Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. B. Riley Financial lowered their target price on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. BMO Capital Markets lowered their target price on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, July 17th. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Wells Fargo & Company cut their price target on Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Alcoa currently has an average rating of “Hold” and an average target price of $61.09.

Alcoa Trading Up 2.5%

AA stock opened at $51.83 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. Alcoa has a 12-month low of $29.49 and a 12-month high of $84.38. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.57 and a beta of 1.63. The business’s 50-day moving average is $50.14 and its 200 day moving average is $60.25.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period in the previous year, the company earned $0.39 EPS. On average, sell-side analysts anticipate that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 11th. Alcoa’s dividend payout ratio is currently 8.23%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.